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Tag: Senate

  • Senate Committee rejects 2025 budget for Ministry of Information

    Senate Committee rejects 2025 budget for Ministry of Information

    The Senate Committee on Information and National Orientation has rejected the eight  billion Naira 2025 budget for Ministry of Information and National Orientation.

    The Chairman of the Committee, Sen. Emeka Eze,  during the budget defense on Tuesday in Abuja, said that the budgetary provision for the ministry was grossly inadequate.

    Eze also said that the committee would summon the Minister of Budget and National Planning to discuss how  the budget of the ministry can be improved.

    Details to follow…

  • Akpabio urges completion of electoral reforms

    Akpabio urges completion of electoral reforms

    President of Senate, Godswill Akpabio says the critical task before the National Assembly on resumption is the completion of electoral reforms, given the preparations for next electoral cycle.

    Akpabio said this in his welcome back speech at plenary on Tuesday.

    Akpabio in the speech titled” Rising to the Greatness of Our Calling” said lawmakers had a unique opportunity to strengthen the nation’s democracy.

    He said: “Another critical task before us is the completion of electoral reforms, as the nation begins preparations for the next electoral cycle,

    “We have a unique opportunity to strengthen our democracy.

    “Electoral reform is not just a legislative duty, it is a moral imperative, t is our chance to gift the Nigerian people a system that is transparent, credible, and reflective of their will.

    “Let us not waver in this responsibility, for the foundation of every thriving democracy is trust in its electoral processes.

    “Distinguished colleagues, as leaders and representatives of the people, we must remain steadfast in our prayers for the peace and unity of Nigeria.

    “Our country faces numerous challenges, but we must never underestimate the power of collective intercession, pray for wisdom, peace, and divine intervention to guide our leaders and unite our people.

    “This moment is significant,we are at the end of first quarter of the 21st century, a time that demands bold action and visionary leadership.

    “History is calling on us to make a difference to write a new narrative for our nation, one of progress, justice, and boundless possibilities.

    “Distinguished senators, let us rise to this challenge, let us be relentless in our pursuit of excellence, fearless in the face of obstacles, and unwavering in our love for Nigeria.

    “Our work here is not just about legislation, it is about shaping the future of a nation and leaving a legacy for generations to come.

    “As we forge ahead, let these words resonate in our hearts, Nigeria is counting on us., the time to act is now. Let us unite in purpose, strive for the common good, and dedicate ourselves wholly to the task of nation building.”

    Akpabio urged lawmakers to approach consideration of the 2025 national budget with usual patriotism and diligence.

    According to him, the budget is not just a financial document but a blueprint of aspirations and hopes of millions of Nigerians.

    ” We must ensure that every item within it reflects the collective dreams of our people and serves as a catalyst for development, equity, and justice,” the president of senate said.

  • Senate ready to pass N49.7trn 2025 Budget by Jan 31

    Senate ready to pass N49.7trn 2025 Budget by Jan 31

    The Chairman of the Senate Committee on Appropriations, Adeola Olamilekan, has affirmed January 31, 2025, as a provisional date for the passage of the 2025 ₦49.7tn budget as the committee prepares to begin budget defence on Tuesday.

    He made this disclosure on Monday during a meeting with the chairmen of relevant committees on the template for the 2025 Budget Defence Session to guide the budget process towards its eventual signing into law.

    Olamilekan further revealed that upon the resumption of plenary by the 14th of January 2025, the Senate would immediately commence a two-week break for the seamless continuation of the budget defence process.

    He equally revealed a planned retreat on Thursday on the budget consideration which will involve ministries, departments and agencies, civil society organisations, and other stakeholders in the polity for further consultation and insight into the content of the budget proposal

    According to the timetable, from the 15th to the 18th of January, it is expected that the committees would report back on their documents, after which collation and tiding of documents by the Appropriation Committee.

    Acknowledging the limited timeframe, Olamilekan emphasised the need for lawmakers to intensify their efforts. He also urged his colleagues to forgo their holidays and begin immediate work on the proposed budget estimate, underscoring the importance of timely and efficient handling of the budget process within the stipulated timeframe.

  • BREAKING: Kaduna Senator escapes assassination

    BREAKING: Kaduna Senator escapes assassination

    Senator Lawal Adamu Usman, the Senator representing Kaduna Central Senatorial District, has escaped an alleged assassination attempt on his life.

    TheNewsGuru.com (TNG) reports the Kaduna Central Senator disclosed this himself on Wednesday night via his official Facebook page.

    “I just escaped an assassination attempt by some thugs in Kaduna North,” Usman wrote on the Facebook page without releasing any further details.

    TNG reports Usman, a chieftain of the opposition Peoples Democratic Party (PDP), was elected to the Senate in 2023.

  • 2025 Appropriation Bill passes 2nd reading in Senate

    2025 Appropriation Bill passes 2nd reading in Senate

    The Senate, on Thursday, passed for second reading the 2025 Appropriation Bill of N49.7 trillion.

    The appropriation bill was presented to the joint session of the National Assembly by President Bola Tinubu on Wednesday.

    The passage of the bill for second reading followed the presentation of its general principles at plenary on Thursday by the Majority Leader, Sen. Opeyemi Bamidele (APC-Ekiti).

    Leading the debate on the general principles, Bamidele said that the bill was deemed to have been read the first time when it was laid before the joint session of the national assembly.

    He said that the bill sought to authorise issuance of N49.7 trillion out of the Consolidated Revenue Fund of the federation for the 2025 fiscal year.

    Bamidele said: “The 2025 budget proposal christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of the Renewed Hope Agenda.

    “It demonstrates this administration’s commitment to stabilising the economy, improving lives and repositioning our country for greater performance.

    “The 2025 budget has seen a significant increase of 74.18 per cent, reaching N47.9 trillion in nominal terms, signalling a bold fiscal strategy aimed at addressing persistent infrastructure gaps and development challenges.

    “However, in dollar terms, the budget contracted by 23.22 per cent, dropped from 36.7 billion dollars in 2024 to 28.18 billion dollars in 2025.

    “This reduction in real value limits the potential impacts of the budget on economic growth and the well-being of the population.

    “What remains for us is to closely examine the contents and the details to sort things out and smoothen the rough edges.”

    Bamidele listed the budget highlights to include: oil price benchmark of 75 dollars per barrel, daily oil production estimate of 2.06 million barrels per day and exchange rate of N1,500 to a dollar, with the inflation rate standing at 15.75 per cent.

    Contributing, Sen. Abdul Ningi (PDP-Bauchi) expressed optimism about the budget, emphasising the critical role of the national assembly in shaping it to address the nation’s challenges.

    He said that while the president had presented his proposals, the real question laid in what the parliament could do to refine the proposal for the benefit of Nigerians.

    Ningi stressed the need for prioritising outcomes that would improve citizens’ lives, such as addressing hunger, economic hardship and security concerns.

    He described security as the foundation for progress, urging the president to devote significant attention to it.

    “As a parliament, it should not be about what the president brought; it should be about what the parliament can do with what the president brought,” he said.

    In his contributions, Sen. Tahir Monguno (APC- Borno) said that protection of lives and property was the fundamental responsibility of any government.

    Monguno said that the allocation of N2.6 billion to infrastructure was a significant step toward economic development, saying that it had the potential to generate a multiplier effect.

    He, however, expressed concern that without effective implementation, such allocations would remain mere projections, with no tangible impacts on citizens’ lives.

    The senator urged the executive arm to prioritise budget implementation, referencing the president’s recent disclosure that only 48 per cent to 50 per cent of the current budget had been executed.

    He called for a significant improvement, suggesting that implementation levels should reach at least 80 per cent or 90 per cent.

    Sen. Adams Oshiomhole (APC-Edo) said that security was critical to national development, stressing that no sector could thrive without it.

    He lauded the allocation to defence, emphasising that it reflected the nation’s pressing need to address insecurity.

    Oshiomhole called for a shift in defence policies and procurement strategies, advocating for a stronger focus on technology to enhance security capabilities.

    Sen. Asuquo Ekpenyong (APC-Cross River) said that the budget should include provisions for South-West Development Commission.

    Also, Sen. Victor Umeh (LP-Anambra) expressed concern over what he called the omission of Port Harcourt-Maiduguri eastern railway line in the budget.

    Umeh, while acknowledging the plans to construct the Sokoto-Badagry and Lagos-Calabar highways, stressed the importance of the eastern rail line, which he had previously championed through a motion co-sponsored by 35 senators.

    He urged his colleagues to ensure that the eastern rail line was included in the detailed budget breakdown.

    In his remarks, President of the Senate, Godswill Akpabio, thanked his colleagues for their contributions to the general principles of the 2025 appropriation bill.

    He urged the lawmakers responsible for the various ad-hoc committees to get their reports ready upon resumption in January.

    The senate, thereafter, adjourned plenary till January 14, 2025 for the Christmas and New Year celebrations.

  • Senate passes 2024 Nigerian Insurance Industry Reform Bill

    Senate passes 2024 Nigerian Insurance Industry Reform Bill

    The Senate has passed the 2014 Nigerian Insurance Industry Reform Bill, following the adoption of the report by the Committee on Banking, Insurance, and other Financial Institutions.

    The report was presented by the committee’s chairman, Sen. Abiru Adetokunbo (APC-Lagos), during Tuesday’s plenary session.

    Adetokunbo explained that the bill, which was read a second time on July 18, sought to consolidate various existing laws regulating insurance businesses in Nigeria.

    He listed the relevant laws to include the Insurance Act 2003, the Marine Insurance Act, Motor Vehicles Third Party Insurance Act, National Insurance Corporation Act, and Nigerian Reinsurance Corporation Act.

    A major objective of the bill, according to Adetokunbo, is to create a robust legal and regulatory framework for the insurance sector, enabling it to contribute positively to Nigeria’s financial landscape.

    He emphasised the need for effective risk-based supervision in the insurance sector, arguing that the current rule-based regulatory system had become obsolete.

    Adetokunbo noted that stakeholders, during the public hearing, widely supported the bill, highlighting that existing laws no longer meet the evolving needs of the industry.

    “The current insurance legislation is over two decades old and lacks provisions to address contemporary challenges and foster growth and innovation,” he said.

    He also pointed out that legal obsolescence had led to regulatory inefficiencies, hampering the industry’s global competitiveness.

    Adetokunbo urged the Senate to pass the bill, which would provide a comprehensive framework for the regulation of all types of insurance initiatives in Nigeria.

    Sen. Jimoh Ibrahim (APC-Ondo) raised concerns about the proposed minimum capital requirement of N45 billion for reinsurance businesses, suggesting the status quo should be maintained due to the current economic situation.

    Jibrin highlighted that the passage of the bill was necessary to align the insurance ecosystem with contemporary economic realities, which would ultimately benefit the country.

    “This Act, once it receives concurrence from the House of Representatives and assent from the President, will significantly contribute to shaping our economy for the better.

    “Economies are dynamic and constantly changing, so it is incumbent upon the authorities of every nation to update their legislation to align with contemporary realities.

    “This is precisely what the passage of this legislation aims to achieve to restructure the entire insurance ecosystem in line with current realities.

    “I am confident that the country will benefit greatly when the law is eventually assented to.”

  • Just in: Julius Berger MD in trouble as Senate issues warrant of arrest against him

    Just in: Julius Berger MD in trouble as Senate issues warrant of arrest against him

    Senate on Thursday issued a warrant of arrest against the Managing Director of Julius Berger Nigeria Plc, Dr Peer Lubasch, for persistently refusing to appear before its committee on Works .

    Resolution of the Senate on Warrant of Arrest against MD of Julius Berger, followed motion moved to that effect by the Senate Minority Whip, Senator Osita Ngwu (PDP Enugu West) .

    Senator Ngwu in the motion co – sponsored by Senators Asuquo Ekpenyong (APC Cross River South) and Mpigi Barinada (PDP Rivers South East), informed the Senate that Julius Berger Plc Julius Berger has persistently refused to appear before the Senate Committee on Works for required explanations on projects abandonment and alarming contract variation from N54billion to N195billion .

    Date for compelling appearance of Julius Berger before the Senate Committee on Works, according to the President of the Senate, Godswill Akpabio, will be stated in the arrest warrant

    Details shortly…

  • Senate asks INEC to conduct fresh election in Edo

    Senate asks INEC to conduct fresh election in Edo

    The Independent National Electoral Commissioner (INEC) has been called upon to conduct a fresh election to fill the vacant seat of Edo Central Senatorial District in the Nigerian Senate.

    TheNewsGuru.com (TNG) reports the Edo Central Senatorial District seat became vacant after Senator Monday Okpebholo was elected and sworn in as the Governor of Edo State.

    Okpebholo was a member of the 10th Senate, until his election as Governor of Edo, on September 21, 2024.

    Calling on INEC to conduct a fresh election to fill the vacant seat in the Senate, Senate President Godswill Akpabio earlier declared the Edo Central senatorial seat vacant.

    Senator Akpabio declared the Edo Central senatorial seat vacant at a valedictory session held for Senator Okpebholo.

    “In line with the Constitution, the seat of Edo Central Senatorial District is, hereby, declared vacant and INEC is, accordingly, invited to conduct fresh election to fill the seat left by Distinguished Senator Monday Okpebholo,” Akpabio said.

    The Senate President went on to urge Senator Okpebholo to keep up with his legacy of good works as he carried out his duties as the Governor of Edo State.

    Speaking at the valedictory session, Senator Adams Oshiomhole (APC-Edo) described Okpebholo as a humble, resourceful, committed and intelligent man.

    “We’re happy that in 30 days, Edo people are aware that there is a new governor in town,humble, resourceful, committed, intelligent, few words but maximum action,” he said.

    Senator Danjuma Goje (APC-Gombe) described Okpebholo as a man of good character, honest and a committed Nigerian.

    Goje advised the Edo governor to continue with his good traits, adding that his good disposition was a great asset for the state.

    Reacting, Okpebholo said his involvements in the legislative session was to drive good governance, especially in infrastructure development, security, education, health,among others.

    The Governor, who described the plenary as emotional one for him, expressed his gratitude to his colleagues, especially those who stood by him during his campaign period.

    “Distinguished colleagues, this is quite emotional for me. From the moment I joined the 10th Senate in June, 2023.

    ”Every moment at the red Chamber has remained memorable. We saw ourselves as forerunners of democracy and we wanted the best for the nation. Thank you for standing by me through out the campaign exercise,” he said.

  • Bill to establish Federal University in Bayelsa passes 2nd reading

    Bill to establish Federal University in Bayelsa passes 2nd reading

    The Senate has passed for second reading, a bill seeking to establish the Federal University of Science and Technology, Okorokorisei in Bayelsa.

    The institute, if established, will focus on teaching and research in science and technology.

    This followed the presentation of the general principles of the bill by the sponsor, Sen. Benson Friday (PDP-Bayelsa), at plenary on Tuesday.

    Friday, in his lead debate, said the university would serve not only Bayelsa people but be an institution of learning where people from all parts of the country could come and learn.

    He said the proposed university was for the training of young men and women and older Nigerians in science and technology, adding that education was a driver of modern economy.

    Friday said the university would also teach courses that are particularly relevant to each immediate area, especially Marine Engineering, Petroleum, and other fields of research.

    “Beyond those disciplines, the university will also produce graduates in diverse fields of Engineering, Medical Science, and Information Technology among others.

    “The university will award both first and postgraduate degrees, and contribute in developing the manpower required for building our nation’s economy,” he said.

    Friday said there was need to take advantage within the global economy to build the nation’s manpower base via establishment of the deserving universities.

    He said there was need to establish more universities to train, equip and give them a hope and a future.

    “That is why the proposed federal university of science and technology should be established.

    “Establishing this university will also draw young people out of the streets and get them engaged in activities that will brighten their future and the future of this society.

    “It is a weapon against youth restlessness and other biases that may arise in the future,” Friday said.

    Contributing, Sen. Seriake Dickson (PDP-Bayelsa), said the bill sought the need for additional investment in the nation’s education sector.

    He urged lawmakers to support the establishment of the institution, given the need for additional educational investment in the state.

    President of the Senate, Godswill Akpabio, shortly after the bill passed the second reading, referred it to the Committee on Tertiary Institutions and TETFund for further legislative inputs.

    The bill is to be returned to plenary in four weeks.